MELTDOWN

Disgraced Crypto Mogul Puts $40 Million Bahamas Penthouse on Market

FTX founder Sam Bankman-Fried is looking to liquidate his holdings.

FTX founder and ousted CEO Sam Bankman-Fried has placed his Bahamas penthouse on the market, reported Semafor, a day after he told Reuters that he was in the island nation. The 12,000-square-foot, five-bedroom residence is reportedly asking for about $40 million—pennies compared to the billions that the alleged wunderkind lost during his company’s meltdown. On Friday, FTX filed for bankruptcy amid reports that its staff had lost somewhere between $1 to $2 billion in client funds, and that another $10 billion was quietly shipped to Bankman-Fried’s other crypto business, Alameda Research. Bankman-Fried is reportedly looking to liquidate his holdings, which include a 20 percent discount on his $472 million stake in the digital currency broker Robinhood. The former executive lived and worked at the penthouse—which included a private elevator, a spa, pool, and a view of the Atlantic Ocean—with friends, colleagues and romantic interests that were likened to a “gang of kids in the Bahamas,” according to Coindesk.